Budget 2012 – Annual Tax Rates and Allowances

Corporation Tax - GT

Corporation Tax

Year to 31 March 2013 31 March 2012
Small companies rate1 20% 20%
Upper limit2 £300,000 £300,000
Marginal relief band
Lower limit2 £300,000 £300,000
Upper limit2 £1,500,000 £1,500,000
Marginal rate 25% 27.5%
Marginal relief fraction 1/100 3/200
Full Rate 24% 26%

1 Not available to close investment holding companies.
2 Profit limits reduced pro rata for a company in a group or with associated companies.

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